Mitsubishi Outlander PHEV Forum

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 Post subject: Re: Help with pcp
PostPosted: Mon Feb 11, 2019 12:03 pm 
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Joined: Wed Sep 03, 2014 4:27 am
Posts: 129
Re gap insurance: this may help https://www.moneysavingexpert.com/car-i ... insurance/

Once again, you can purchase this type of insurance from several providers so do shop around


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 Post subject: Re: Help with pcp
PostPosted: Mon Feb 11, 2019 12:24 pm 
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Joined: Fri May 20, 2016 4:09 pm
Posts: 196
Gap insurance
cost of car 39500
deposit 10000
you owe finance 29500 - what you paid in monthly over time say 5000
Now finance 24500
car stolen or got write off after crash
as the car loses value every day the insurance pays say 20000
you still owe 4500
There two types
1. Gap pays the difference ie 4500
2. Gap pays the difference to buy a car of same age
that insurance money 20000 + gap = another PHEV of same age.
Gap insurance is only for 3 years I think, after that you buy the car or return it
All PCP owners should buy it.

Cheapest Gap Ins is 123 gap insurance in UK


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 Post subject: Re: Help with pcp
PostPosted: Mon Feb 11, 2019 12:31 pm 
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Joined: Fri May 20, 2016 4:09 pm
Posts: 196
you can only buy gap insurance within 30 days of buying a new car


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 Post subject: Re: Help with pcp
PostPosted: Tue Feb 12, 2019 2:01 am 
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Joined: Wed Sep 03, 2014 4:27 am
Posts: 129
Kesto wrote:
you can only buy gap insurance within 30 days of buying a new car


Are you sure that is correct? These providers seem willing to insure cars which have been owned up to 12 months https://www.money.co.uk/gap-insurance.htm


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 Post subject: Re: Help with pcp
PostPosted: Tue Feb 12, 2019 1:35 pm 
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Joined: Fri May 20, 2016 4:09 pm
Posts: 196
As far as I remember for new car both mitsubishi gap and 123 gap told me 30 days. Also when on PCP, I could only cover for 3 years. When I bought my Citroen grand picasso in 2008 I had to buy within 30days and was for 3 yrs. Cannot say about second hand cars.


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